Intercontinental Exchange Inc (ICE) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its stake in Intercontinental Exchange Inc (NYSE:ICE) by 14.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 90,505 shares of the financial services provider’s stock after selling 15,832 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Intercontinental Exchange were worth $6,657,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D purchased a new position in Intercontinental Exchange in the 1st quarter valued at $6,889,000. Signaturefd LLC purchased a new position in Intercontinental Exchange in the 1st quarter valued at $142,000. Tredje AP fonden lifted its holdings in Intercontinental Exchange by 37.5% in the 1st quarter. Tredje AP fonden now owns 55,565 shares of the financial services provider’s stock valued at $4,030,000 after purchasing an additional 15,150 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Intercontinental Exchange by 62.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,545 shares of the financial services provider’s stock worth $1,055,000 after acquiring an additional 5,601 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Intercontinental Exchange by 2.5% during the 1st quarter. BlackRock Inc. now owns 38,207,564 shares of the financial services provider’s stock worth $2,770,811,000 after acquiring an additional 935,860 shares during the period. 88.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total value of $5,862,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David S. Goone sold 10,402 shares of Intercontinental Exchange stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $78.01, for a total value of $811,460.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,717 shares of company stock valued at $21,841,659. 1.50% of the stock is currently owned by corporate insiders.

ICE has been the topic of several analyst reports. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. ValuEngine lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Saturday, June 16th. Compass Point initiated coverage on Intercontinental Exchange in a report on Friday, June 22nd. They set a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Co reiterated a “market perform” rating and set a $80.00 price target (up previously from $74.00) on shares of Intercontinental Exchange in a report on Monday, July 9th. Finally, Barclays lifted their price target on Intercontinental Exchange from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, July 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $82.27.

Shares of ICE opened at $75.38 on Tuesday. The stock has a market capitalization of $42.94 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.18 and a beta of 0.65. Intercontinental Exchange Inc has a 12-month low of $64.91 and a 12-month high of $78.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. Intercontinental Exchange’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Analysts expect that Intercontinental Exchange Inc will post 3.48 earnings per share for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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